v3.25.4
CONSOLIDATED STATEMENTS OF CHANGES IN PARTNERS' CAPITAL - USD ($)
$ in Millions
Total
Partners’ Capital Excluding Noncontrolling Interests
Noncontrolling Interests
Limited Partners
Series A Preferred Units
Partners’ Capital Excluding Noncontrolling Interests
Limited Partners
Series B Preferred Units
Partners’ Capital Excluding Noncontrolling Interests
Limited Partners
Common Units
Partners’ Capital Excluding Noncontrolling Interests
Beginning balance at Dec. 31, 2022 $ 13,325 $ 10,057 $ 3,268 $ 1,505 $ 787 $ 7,765
Increase (Decrease) in Partners' Capital [Roll Forward]            
Net income 1,502 1,230 272 173 76 981
Distributions (1,330) (997) (333) (173) (76) (748)
Other comprehensive income (loss) 118 118       118
Equity-indexed compensation expense 36 36       36
Contributions from noncontrolling interests 106   106      
Other (25) (22) (3) 4   (26)
Ending balance at Dec. 31, 2023 13,732 10,422 3,310 1,509 787 8,126
Increase (Decrease) in Partners' Capital [Roll Forward]            
Net income 1,113 772 341 175 78 519
Distributions (1,569) (1,144) (425) (175) (78) (891)
Other comprehensive income (loss) (247) (247)       (247)
Equity-indexed compensation expense 36 36       36
Contributions from noncontrolling interests 57   57      
Other (26) (26)   5   (31)
Ending balance at Dec. 31, 2024 13,096 9,813 3,283 1,514 787 7,512
Increase (Decrease) in Partners' Capital [Roll Forward]            
Net income 1,769 1,435 334 146 70 1,219
Distributions (1,733) (1,286) (447) (146) (70) (1,070)
Other comprehensive income (loss) 187 187       187
Equity-indexed compensation expense 37 37       37
Contributions from noncontrolling interests 75   75      
Repurchase of Series A preferred units (313) (313)   (270)   (43)
Repurchase of common units (8) (8)       (8)
Other (30) (29) (1) 4   (33)
Ending balance at Dec. 31, 2025 $ 13,080 $ 9,836 $ 3,244 $ 1,248 $ 787 $ 7,801